Bestfitter...please don't let Tackler ruin the GPXM board....

Sorry fellas. Hate to see anyone get hit like this. Good luck on all your future trades.

sorry to say that the stock is worthless today because of the reorganization... Never good to buy BK stocks...

Kaiser Aluminum Begins Trading on NASDAQ Under KALU Symbol
Jul 7, 2006 8:00:00 AM
Copyright Business Wire 2006

FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--July 7, 2006--

Kaiser Aluminum Corporation (NASDAQ: KALU) today began trading on NASDAQ under the ticker symbol KALU, one day after formally emerging from bankruptcy.

The company is now focused on the production of fabricated aluminum products after divesting of the majority of its commodity-based holdings and eliminating all of the material debt, legacy and asbestos-related liabilities that necessitated restructuring.

Kaiser Aluminum is a leading producer of fabricated aluminum products for aerospace and high-strength, general engineering, automotive and custom industrial applications. For more information, please visit our Web site at www.kaiseraluminum.com.

F-1047

Company press releases may contain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "estimates," "will," "should," "plans" or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. Kaiser cautions that such forward-looking statements are not guarantees of future events and involve significant risks and uncertainties, and that actual events may vary materially from those expressed or implied in the forward-looking statements as a result of various factors. These factors include the effectiveness of management's strategies and decisions, general economic and business conditions, developments in technology, new or modified statutory or regulatory requirements, and changing prices and market conditions. Certain sections of the Company's Annual Report on Form 10-K identify other factors that could cause differences between such forward-looking statements and actual results (for example, see Item 1A. "Business --Risk Factors" and Item 7. "Management's Discussion and Analysis of Financial Condition and Results of Operations"). No assurance can be given that these are all of the factors that could cause actual results to vary materially from the forward-looking statements.

Source: Kaiser Aluminum

----------------------------------------------

For Kaiser Aluminum
Geoff Mordock
213-489-8271

Buddy, your shares, and all KLUCQ shares, were cancelled without consideration. They went POOF at the closing bell yesterday. The company PR'd they would be cancelled back on May 12th. The company has a new trading symbol, KALU, but the shareholders of KLUCQ were left behind. I'm sorry my friend, but there's no easy way to put it. Bankruptcy can be a beotch for the shareholders. The creditors come first. KALU will open trading in the $35 per share range, but you will have no shares in it. I'm sorry, man. Good luck to you.

JJ

I hope ur right...I'm 1 of those pple that kept my shares...n I couldn't sleep lastnight....I can't find the new ticker that they put in there PR...What's going on with this company...? Seems shady....goood luck...I hope it some more juice so I can break even at least

http://buyins.net/tools/short_list.php?dys=>12 still on the naked short sell list.. maybe they still have to cover

You may be wrong ...Look at the level 2 ...someone bought 14 million shares after hours ..Whats up....that about 98,000 dollars man ...

I think this will turn around 2morrow with them coming out of chapter..n with the ticker change....check out yahoo...that's y pple were still buying 2day...2morrow should b very niiiiiiiice...gooood luck

Hope none of you got stuck holding any shares. Bankruptcy sucks for the shareholder. At least they PR'd to you that your shares were gonna get cancelled back on May 12 so hopefully you all got out. No idea who was buying today. Just kinda been following this one because of how crazy it's traded since the company announced the shares would be cancelled.


Item 5.01 Changes in Control of Registrant
Immediately prior to the Effective Date, a majority of the Company’s issued and outstanding common stock was owned by MAXXAM Inc. and one of its wholly owned subsidiaries. Pursuant to the Plan, ALL shares of the Company’s common stock issued and outstanding immediately prior to the Effective Date were cancelled without consideration., Pursuant to the Plan, on the Effective Date the Company issued 20.0 million shares of Common Stock for distribution in accordance with the terms of the Plan. After giving effect to sale transactions effected prior to the Effective Date in accordance with procedures approved by the Bankruptcy Court, on the Effective Date a trust that provides benefits for certain eligible retirees of KACC represented by the United Steelworkers of America, AFL-CIO, CLC, the International Union, United Automobile, Aerospace and Agricultural

BYE

In this case, naked shorts are a good thing and never have to cover. Once the shares are cancelled, those that are naked short profit by all the shares they shorted.

Some stocks are on the Reg SHO list for good reason.

Trade the stock all you want, but if someone thinks they are going to get something long term out of this stock, someone has been given to false hope.

I wouldn't say that. The point is, you're all dead in the long run, no matter where it trades today. The shares will be cancelled.

KMART and MCI are two very good recent examples where gullible shareholders were given false hope. Once the NEW SHARES were issued, they understood.

Sorry to interrupt your pump. Good luck with it.

It doesn't have to be a chapter 7 for the current stock to be deemed worthless coming out of bankruptcy. Then they can issue new stock and start all over from scratch. But with that said, I'm starting to wonder if they are honoring that original stock.

Maybe MM selling Naked short , since they don't have to pay for them...
When is the Bankcrupcy ?

Your almost right but in this case the filing was not a chapter 7 the stock still has value and the company was not shut down.. and it is a listed stock..
http://www.investopedia.com/ask/answers/06/chapter11stocksbonds.asp

and believe it or not there may be more than 80 million naked short sold shares remember the point they are naked .... this may be a wild ride

So apparently you haven't a clue either.

possible MM's moving it up so they can clean out all there inventory lol

Exactly what you see is exactly what's going on.

Awesome another 54% gain!

This is exactly what I was thinking - shorts wouldn't need to cover unless the stock is worth something. The original question remains - whats going on here?

What happens if I maintain a short position in a stock that is delisted and declares bankruptcy?

The short seller owes nada. Nil. Zip. Zero.

When you short sell you borrow the shares, sell them on the market, and then collect the proceeds as cash. If you wanted to get out of the position, you would have to buy back the same number of shares to repay the person (or brokerage) from whom you borrowed them. If you buy back the shares at a price lower than the price at which you originally sold them, you collect the difference - so short selling is a way to profit from a falling stock. But if the company is delisted and bankrupt, you don't have to pay back anyone because the shares are worthless.

Note: This is the best possible scenario for a short seller.

http://www.investopedia.com/ask/answers/03/082803.asp

============================

As of April 30, 2006, there were 79,671,531 shares of the Common Stock of the registrant outstanding. The number of outstanding shares of Common Stock may not be meaningful, because as part of the registrant’s plan of reorganization the equity interests of the Company’s existing stockholders are expected to be cancelled without consideration.


http://www.sec.gov/Archives/edgar/data/811596/000095012906005333/h35721e10vq.htm

Ok so your saying this is definitely a short covering rally?

Could go to 15 dollars who knows ..Remember buyins.com shows this as having Naked shorts..and looks to me like they are forced to buy to cover their short positions.....Looking real good for us...

I was wonder the the same thing too.

There must be something more to this then meets the eye. That news has been out for a LONG time now - it makes no sense they are buying unless they know something.

have been going up very nice but be alerts its clearly states Existing Shareholders will get nothing

"Pursuant to the POR the equity interests of current stockholders would be canceled and the equity in the emerging company would be distributed to creditors or creditor representatives. ..."

Who is buying this stock - it keeps going up steadily? Is this possibly a short covering rally, or has the company decided to honor these shares?

From today's 10Q

http://www.sec.gov/Archives/edgar/data/54291/000095012906005332/h35820e10vq.htm

The Kaiser Aluminum Amended Plan, in general (subject to the further conditions precedent as outlined below), resolves substantially all pre-Filing Date liabilities of the Remaining Debtors under a single joint plan of reorganization. In summary, the Kaiser Aluminum Amended Plan provides for the following principal elements:

(a) All of the equity interests of existing stockholders of the Company would be cancelled without consideration.

(b) All post-petition and secured claims would either be assumed by the emerging entity or paid at emergence (see “Exit Cost” discussion below).

You are scared by last years 10K?

"Kaiser also said it believes it is possible that it will emerge from bankruptcy in the second quarter or early in the third quarter."

Glad I read your posting from 10k .....

I bought this morning and quickly sold once I read in the 10K that our shares will be deemed worthless. Bagholders galore today. Made a quick $100 and lucky to just escape knowing what you posted. Thanks.

So today was nothing more than "irrational exhuberance"? In other words this stock is no good? Any info is appreciated.

You're right. I called the company. I should have done more DD. Thanks.

From Companies last 10K

As of June 30, 2005, there were 79,671,531 shares of the Common Stock of the registrant outstanding. As of June 30, 2005, the aggregate market value of the registrant’s Common Stock held by non-affiliates, based upon the average bid and asked price of the Common Stock as reported by the OTC Bulletin Board maintained by the National Association of Securities Dealers, Inc., for June 30, 2005 (which was the last day of the registrant’s most recently completed second fiscal quarter) was $.9 million. However, the market value of the registrant’s Common Stock may not be meaningful, because as part of the registrant’s plan of reorganization, the equity interests of the Company’s existing stockholders are expected to be cancelled without consideration.

As of February 28, 2006 there were 79,671,531 shares of Common Stock of the registrant outstanding.

Turn-around picking up steam?

Is now the time to buy? New 52-week high, huge volume increase, no more lawsuits, debt, emerging from BK soon? All signs are looking good on this one. I especially like this quote:

"We experienced particularly strong fourth quarter results in our core fabricated products operations and currently expect such strength to continue into and past the first quarter of 2006," said Jack A. Hockema, President and CEO of Kaiser Aluminum.

"The first quarter of 2006 is the first period in which market activity driving volume and conversion spreads appears to be more broad based and sustainable than in previous quarters, thus our optimism going forward."

Harry - go to kaiser's website. There is a brand new articlewith the CEO in, I believe, American Metals Magazine. The co. is almost out of B/K & poised to get onto Nasdaq. In addition, hired a new CFO w/ excellent resume. GLTY

I have no idea. Do you?

Harry - What was today's jump from if the stock is worthless. I itried to buy 40,000 @ .06 and the MM's would not fill it. I'm trying again tomorrow - but will wait & see what the market is doing.

Thanks.

http://www.kaiseral.com/restructuring/kaiser/Press_Release_F-1036.pdf

Yes

Thanks for the reply - Do you mean bankruptcy statement?

Didn't the company say the stock would be worthless in BK statement?

Thanks for the post Rightfielder. I will be watching KLUCQ very closely. I have some money freed up & I'm thinking about putting it down on a real American company. I'm bullish on America right now - too much danger playing with Nigerian, Russian, & Bolivian stocks. Thanks for the info.

GLTY

Whiteshadow reur Post #19 Google Jack A. Hockema interview - American Metal Market issue 3/13/06. Good indication of where Kaiser Alum. is and where its heading. Appears to have cleared up asbestos suits and labor strife and now have a clear business plan.

Logged an order with Boeing to supply heavy alum. plate for use in comm'l aircraft production per news release dtd. 12/19/05.

This isn't Henry J.'s Company anymore. But at .05+, and it is a real "US of A" company......

Anyone have any info on Kaiser? Aluminum up. Company seems to be making $. Alcoa record profit for '05 (I think). ANy info appreciated.

Thanks

Is it time to re-think?

I would like input about Kaiser, Luck? I notice you are the only poster here in the last couple years, rumor is Boeing awarded a big contract to Kaiser, whats your take and do you think the re-organization is firm enough to re-invest in KLUCQ? All comnments appreciated.

Bestfitter

only one thing for sure: the Market Makers for KLUCQ are pigs... i had a buy order out for 10,000 shares at .071/share, and they sold 10,000 shares @ .07 two times. hours after i put in my order. that is not a free and open market... and who cares about naked shorts, when MMs won't even let you buy a freakin stock??? at least i got in earlier. best of luck!

while i cannot promise it will not tank, what can $100 hurt. if KLUCQ survives, ya get a quick $1,ooo+ back. if they do tank, you only lost $100!!! best odds i can find...

i missed the .06 today, but have a buy order outstanding--all because society shuns those that don't shower :)

best of luck!

it's only up 22% today. maybe i should have stayed out of KLUCQ?

best of luck!

everyone is selling, so it's time for me to "throw away" more money. boy i hate buying stock when no one wants it. i could loose .10/share, or make .90/share. tough choice since Kaiser ALUMINUM obviously serves absolutely no purpose in American business.

best of luck!